February 12, 2025

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GenMark Diagnostics Supplies Preliminary Operational and Fiscal Effects for 2020

3 min read

CARLSBAD, Calif., Jan. 11, 2021 (World NEWSWIRE) — GenMark Diagnostics, Inc. (NASDAQ: GNMK), a major company of automated, multiplex molecular diagnostic testing techniques, these days furnished preliminary operational and money benefits for the yr finished December 31, 2020.

Money Highlights

  • Full revenue for 2020 is predicted to be around $171 million, representing an increase of about 95% around 2019
    • ePlex® earnings for the comprehensive calendar year 2020 is envisioned to be about $152 million, an enhance of 155% in excess of 2019
  • Whole earnings for the fourth quarter of 2020 is anticipated to be approximately $50 million, representing an improve of 84% about the fourth quarter of 2019
    • ePlex income for the fourth quarter of 2020 is predicted to be somewhere around $45 million, an improve of 138% in excess of the fourth quarter of 2019
  • Gross margin is envisioned to be close to 39% for the fourth quarter of 2020 and between 39% and 40% for the complete calendar year 2020

Operational Highlights

  • Put 70 net new ePlex analyzers in the fourth quarter of 2020, ending the year with an set up base of 792 ePlex analyzers positioned around the globe
    • ePlex set up base grew 50% yr above calendar year
  • Fourth quarter annuity was approximately $220,000 for each analyzer, when compared to roughly $148,000 in the fourth quarter of 2019
  • Improved producing capability by additional than 75% compared to prior yr with the completion of the to start with of two new production strains during the quarter

“Fourth quarter need remained extremely solid, driven by our ePlex RP2 and blood tradition ID panels that offer broad pathogen protection and simplified workflow with fingers on time of 1 moment or fewer,” reported Scott Mendel, President and Main Executive Officer. “During the quarter, we validated the initially of our two new ePlex producing strains that boosts our output capability to close to 160,000 ePlex checks per month and we stay on keep track of to validate the 2nd line in the very in close proximity to long term.”

“With multi-calendar year contracts that involve fully commited volumes, GenMark has created an enduring and recurring revenue stream that gives visibility to driving continued top rated line advancement in 2021. I’m happy of the whole GenMark group, as we remained committed to our crucial priorities and sent extraordinary final results all through the whole 12 months below amazing instances,” concluded Mendel.&#13

These preliminary effects are centered on management’s original evaluation of operations for the quarter and year finished December 31, 2020 and are matter to additional inside assessment and audit by the company’s external auditors. The organization expects to situation comprehensive 2020 economical benefits and 2021 steering in late February.

About GenMark Diagnostics
GenMark Diagnostics (NASDAQ: GNMK) is a major service provider of multiplex molecular diagnostic remedies developed to increase affected individual care, enhance vital high quality metrics, and cut down the whole value-of-treatment. Utilizing GenMark’s proprietary eSensor® detection technology, GenMark’s eSensor XT-8® and ePlex® units are developed to assistance a wide range of molecular diagnostic tests with compact, quick-to-use workstations and self-contained, disposable exam cartridges. GenMark’s ePlex: The Correct Sample-to-Answer Solution™ is intended to improve laboratory effectiveness and address a wide array of infectious disease tests requirements, which includes respiratory, bloodstream, and gastrointestinal bacterial infections. For extra information, go to www.genmarkdx.com.

Forward Looking Statements
This press release contains ahead-on the lookout statements with regards to events, trends and organization potential customers, which may possibly have an impact on our upcoming operating benefits and economic position. These kinds of statements, such as, but not minimal to, people concerning our preliminary, unaudited financial and operational general performance, anticipated will increase to our ePlex producing potential, and the well timed Food and drug administration clearance and commercialization of more ePlex panel menu, are all subject matter to risks and uncertainties that could trigger our real outcomes and fiscal posture to differ materially. Some of these risks and uncertainties include things like, but are not restricted to, our skill to correctly validate further ePlex producing traces and commercialize our ePlex method and its similar examination menu in a well timed fashion, constraints or inefficiencies prompted by unanticipated acceleration and deceleration of buyer need, our potential to efficiently extend income of our solution choices exterior the United States, and 3rd-occasion payor reimbursement to its consumers, as properly as other hazards and uncertainties described below the “Risk Factors” in our public filings with the Securities and Trade Commission. We presume no accountability to update or revise any forward-searching statements to reflect activities, tendencies or situations just after the day they are built.

Trader Relations Speak to
Leigh Salvo
(415) 937-5404
[email protected] 


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